Hearings on claim of AeroSvit owner against Ukraine for $695 mln postponed to early May

Hearings in international arbitration on the claim of the Dutch company Gilward Investments B.V., which was the largest shareholder of AeroSvit airline, against Ukraine in the amount of more than $695 million are scheduled for May 4-7, 2021, according to an explanatory note to the resolution of the Cabinet of Ministers of Ukraine about the use of the negotiated procurement procedure.

"In accordance with the procedural schedule, the hearing in the case (Gilward Investments against Ukraine) is scheduled for the period from July 28 to July 31, 2020, however, due to the coronavirus pandemic, it was postponed to May 4-7, 2021, in connection with which there is a need attracting a legal adviser to prepare for the said meeting, to participate in it, as well as to prepare and submit relevant reports on the hearings after the meeting," the explanatory note says.

The text also emphasizes that the absence of a plenipotentiary representative of Ukraine at the hearings can lead to significant losses to the state budget of Ukraine.

The Ministry of Justice of Ukraine in previous years attracted Latham & Watkins law firm (Britain) for this purpose.

As a result of the meeting of the interdepartmental group on this case, held by the Ministry of Justice, it was decided to recognize it as expedient to attract Latham & Watkins to represent the interests of Ukraine in the case against Gilward Investments in 2021 by applying the negotiation procedure within the existing budget funding.

As reported, the once largest Ukrainian air carrier AeroSvit, a major shareholder of which was businessman Ihor Kolomoisky, began bankruptcy proceedings at the end of December 2012. It was later canceled by a court decision, and AeroSvit ceased operations.

Source: www.en.interfax.com.ua